Commodities Update

Commodity momentum: No change but gold and silver upside slowing

Ole HansenOle Hansen , Head of Commodity Strategy, Saxo Bank
Filed in Commodity update
Denmark, 15 August 2012 at 08:07 GMT+0
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Our momentum indicators show no directional change from yesterday but weak price action in both silver and gold has once again slowed momentum and increased the chance of change in direction.

Brent Crude Sep12 expires tomorrow so attention switches to Oct12, which currently trades at a discount of USD 1.87 per barrel to Sep12.

We have now added Live Cattle to the momentum indicators as a representative for the livestock sector.

Momentum heatmap 

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Disclaimer

Saxo Bank provides an execution-only service. The material on this website does not contain (and should not be construed as containing) investment advice or an investment recommendation, or a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Saxo Bank accepts no responsibility for any use that may be made of these comments and for any consequences that result.

Please read our full disclaimers:
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